Colibri intersects 72 meters of 0.195 % Moly within widely distributed molybdenum-copper porphyry mineralization on Leon Project

    VANCOUVER, June 11 /CNW/ - Colibri Resource Corporation is pleased to
report results of core drilling on the Leon Project in Sonora, Mexico. Twenty
one core holes were completed, 3837 meters in total. All core is HQ diameter.
Core recovery was generally excellent, 90-100%, except for the initial 10-20
meters of holes that encountered oxidized, friable material. Core Holes 15
through 21 were targeted across large scale, east-west trending, steeply
dipping structural zones that correspond with prominent molybdenum and or
copper soil anomalies (see drawings at
Drilling focused on three mineralized zones: Las Amarillas precious metal zone
(to be reported in a future news release); and molybdenum-copper anomalies
exposed at La Variedad and La Fortuna zones.

    La Variedad Zone:

    Drilling targeted large scale, east-west trending, steeply dipping
structural zones that correspond with prominent molybdenum and or copper soil
    Drilling highlights include 72 meters of 0.195% Mo between 22 and 94
meters depth in LEDH 18 within an interval of 211 meters of 0.082% Mo. LEDH 17
contained 72 meters of 0.120% Mo between 0-72 meters depth. LEDH 17 and LEDH
18 were collared from the same drill pad, LEDH 17 at an inclination of -50
degrees, azimuth due north, LEDH 18, -50 degrees at an azimuth of 135 degrees,
from the crest of an east west trending hill. Mineralization occurs as
molybdenite in stockwork and in quartz veins. LEDH 17 cut a 2 meter interval
of 1.0% Mo between 23-25 meters, a 2 meter interval of 0.84% Mo between 36-38
meters and a 2 meter interval of 0.76% Mo between 68-70 meters. LEDH 18 cut a
2 meter interval of 2.45% Mo between 26-28m, a 2 meter interval of 1.8% Mo
between 38-40 meters, a 2 meter interval of 0.55% Mo between 78-80 meters.
    LEDH 17 and LEDH 18 were collared from the same drill pad at the crest of
an east west trending ridge. In this area a prominent NE-striking, SE-dipping
quartz vein with coincident mine working is intersected by a broad network of
quartz veins, porphyry dikes and stockwork with average strike/dip of N60W/75
SW. Mineralization occurs as molybdenite in stockwork and quartz veins. The
upper 72 meters of LEDH 17, inclined at -50 degrees to the north, appears to
have cut both of these structural trends. Multiple generations of
mineralization are indicated by a wide range of orientations of crosscutting,
sulfide bearing veins. LEDH 18, inclined -50 degrees at an azimuth of 135
degrees, cut multiple intervals of quartz veins and stockworked porphyry. A
few mineralized quartz veins were intersected by LEDH 18 at approximately 30
degrees angle to the core axis, consistent with SW-dipping structures mapped
at the surface.
    At least 2 generations of mineralization are indicated by a wide range of
orientations of crosscutting, sulfide bearing veins. Structures in the
vicinity of the drill pad trend nearly east-west and dip vertically or
steeply, both to the north and south. True total width of mineralization cut
by holes LEDH 17 and 18 is constrained by the geometry of drill holes to be a
minimum of 100.2 meters at a weighted average grade of 0.12 % Mo, if the
predominant orientation of mineralized structures trends approximately
east-west and dips 70 degrees to the south. Any other geologically reasonable
orientation of mineralization requires greater true widths. If mineralization
is dominantly east west trending and steeply north dipping, true width is 139
meters at 0.12% Mo, if vertical, then true width is 107 meters.
    LEDH15 and LEDH16 were inclined -50 degrees at azimuths
near-perpendicular to steeply dipping east-striking vein systems. Both holes
cut broad intervals of disseminated molybdenum with anomalous copper in
LEDH15. An interval of 37.4 meters of 0.051% Mo and 0.036% Cu was intersected
between 18.6-56 meters in LEDH 15 with 12 meters of 0.03% Mo and 0.126% Cu
between 94- 108 meters and 10.8 meters of 0.12% Mo and 0.116% Cu between
240.55m-251.35 meters. LEDH16 averaged 0.052% Mo over 268 meters, the entire
hole, with an interval of 160 meters of 0.065% Mo between 90-250 meters.
    These holes are widely spaced; LEDH 15 is 505 meters distant from LEDH
16, 829 meters from LEDH 18, more than 2 kilometers from LEDH 19. So far, less
than half of the surface area of soil samples containing greater than 500 ppm
copper and 50 ppm molybdenum, (with ancillary anomalous gold and silver), have
been targeted by drilling.

    La Fortuna Zone:

    Drilling targeted south-dipping quartz veins and stockwork in Tertiary
porphyry and Precambrian gneiss, structures previously excavated by the La
Fortuna mine workings. LEDH 19 cut 22 meters of 0.054% Mo and 0.067% Cu
between 16-38 meters depth, including 2 meters of 0.243% Mo and 0.077% Cu from
36-38 m depth; this latter interval probably corresponding to the down-dip
projection of structures mapped at the surface. LEDH 20, directed vertically
into the footwall of the vein system, cut broad intervals of disseminated
mineralization, averaging 91 ppm Mo and 191 ppm Cu over 88 meters.
    The lithologies and style of mineralization revealed by drill core are
similar to the Creston molybdenum deposit located 3.5 kilometers to the
northeast of hole LEDH 19 (see ), which is believed to be
part of the same porphyry system displaced along a network of low angle
faults. Pictures of some of the cores samples have been placed on the website.
    The Leon Project is held by an option agreement between the Mexican
subsidiary of Colibri, Minera Halcones SA de CV and a private Mexican company
to acquire 100% ownership of 5,800 hectares of mineral concessions. The
Project is located near the center of the State of Sonora, Mexico, at an
altitude of approximately 1000 meters above sea level, accessed by gravel
roads in an area of moderate topographic relief. Logistics are favorable for
exploration and mine development. Much of the remainder of the project area is
sparsely sampled. Work is in progress.
    Drilling was conducted by Landdrill International SA de CV. Core samples
were split by diamond saw and delivered to Sonora Sample Preparation Lab in
Hermosillo, Sonora, and analyzed by International Plasma Labs in Vancouver,
British Columbia. Assay results for more than 1000 reverse circulation and
percussion drill samples from the Colibri Project are pending.
    Exploration was conducted under the supervision of J.J. Irwin, B.Sc.,
Ph.D., the qualified person under National Instrument 43-101 on this project.

    Hole           From       To      Interval      Mo %              Cu %
    LEDH15          0m   290.2m EOH     290.2m     0.025%             0.047%
    includes     18.6m          56m      37.4m     0.051%             0.036%
                  158m         189m        31m     0.041%             0.091%
               240.55m      251.35m      10.8m     0.121%             0.116%
    LEDH16           0     268m EOH       268m     0.052%  (less than)100ppm
                   90m         250m       160m     0.065%
                  152m         201m        49m     0.093%
    LEDH17           0     145m EOH       145m     0.062%  (less than)100ppm
                     0          72m        72m     0.120%
                    23          72m        49m     0.165%
    LEDH18           0     211m EOH       211m    0.0818%  (less than)100ppm
                   22m         157m       135m     0.119%
                   22m         126m       104m     0.154%
                   22m          94m        72m     0.195%
    LEDH19           0      89m EOH        89m     0.021%             0.015%
                   16m          38m        22m     0.054%             0.061%
                   36m          38m         2m     0.243%             0.077%
    LEDH20           0      88m EOH        88m    0.0091%              0.02%


    Hole      UTM East    UTM North    Azimuth            Dip         Length
    LEDH-15   528270 E    3306376 N        000       - 50 degrees     290.2m
    LEDH-16   527935 E    3305997 N        180       - 50 degrees       268m
    LEDH-17   528138 E    3305560 N        000       - 50 degrees       145m
    LEDH-18   528146 E    3305556 N        135       - 50 degrees       211m
    LEDH-19   529495 E    3305165 N        045       - 70 degrees        89m
    LEDH-20   529468 E    3305226 N        000       - 90 degrees        88m

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents herein.

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